"I always liked watches growing up. When the opportunity presented itself it was easy to say yes," James told CNBC in Geneva, Switzerland, at the watch factory in late August.

The watch, called the Royal Oak Offshore Chronograph, comes with an 18-karat pink gold case, black ceramic and diamond set push pieces, and a hand-stitched gray crocodile strap.Six-hundred of these watches went on sale at the end of September.

"Anytime I do anything or have a partnership with anyone that has my name on it, I like to have a lot of personal trace in it," said James, whose signature is printed in blue on the sapphire crystal in the back of the watch.

"He [LeBron] is truly a unique person," said François-Henry Bennahmias, CEO of Audemars Piguet. "When we met for the first time there was a good connection and we knew that we would do something together."

James, an avid watch collector, said when it comes to his brand he's mostly focused on what he does best.

"The LeBron James brand is built around basketball. If I'm doing what I need to do on the basketball floor at a high level everything else takes care of itself."